Construction in Finland - Key Trends and Opportunities to 2023

Finland's construction industry expanded by 4.1% in real terms in 2018, with the industry's output value - measured at constant 2017 US dollar exchange rates - increasing from US$39.6 billion in 2017 to US$41.2 billion in 2018. This was preceded by an average annual growth of 3.3% during the preceding four years. Growth during the review period (2014-2018) was driven by positive developments in regional economic conditions and government investment in energy, residential and institutional construction projects.

Over the remaining part of the forecast period (2019-2023), the industry's output is expected to be supported by the government's efforts to revitalize the economy, as well as subsequent improvements in investor and consumer confidence, coupled with the government's investment on the maintenance of transport infrastructure and renewable energy infrastructure. With an aim to increase regional connectivity, in 2018 the government announced plans to build the Arctic railway in collaboration with the Government of Norway.

The industry's output value in real terms is expected to post a compound annual growth rate (CAGR) of 1.0% over the forecast period. The industry is consequently expected to rise marginally, from a value of US$41.2 billion in 2018 to US$43.3 billion in 2023, measured at constant 2017 US dollar exchange rates.

Accounting for 35.5% of the industry's total value in 2018, residential construction was the largest market in the Finnish construction industry during the review period. Commercial construction accounted for 25% of the industry's total output in 2018, followed by infrastructure construction with 14.7%, energy and utilities construction with 10.7%, institutional construction with 7.2% and industrial construction with 7%.

The total construction project pipeline in Finland including all mega projects with a value above US$25 million - stands at EUR120.9 billion (US$142.5 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards early stage projects, with 61.5% of the pipeline value being in projects in the pre-planning and planning stages as of August 2019.

The report "Construction in Finland - Key Trends and Opportunities to 2023" provides detailed market analysis, information and insights into the Finnish construction industry, including -

• Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Finland, featuring details of key growth drivers
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline
• Listings of major projects, in addition to details of leading contractors and consultants

Furthermore, the report helps the user to -

• Identify and evaluate market opportunities using standardized valuation and forecasting methodologies
• Assess market growth potential at a micro-level with over 600 time-series data forecasts
• Understand the latest industry and market trends
• Formulate and validate strategy using critical and actionable insight
• Assess business risks, including cost, regulatory and competitive pressures
• Evaluate competitive risk and success factors

Scope

This report provides a comprehensive analysis of the construction industry in Finland. It provides -

• Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Finland, featuring details of key growth drivers.
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
• Listings of major projects, in addition to details of leading contractors and consultants

Reasons to buy

• Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
• Assess market growth potential at a micro-level with over 600 time-series data forecasts.
• Understand the latest industry and market trends.
• Formulate and validate strategy using GlobalData's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.

Table of Contents

• 1 Executive Summary
• 2 Construction Outlook: At-a-glance
• 3 Latest News and Indicators
• 4 Key Drivers and Risks
• 4.1. Economic Performance
• 4.2. Political Environment
• 4.3. Demographics
• 4.4. Risk Profile
• 5 Construction Outlook
• 5.1. All Construction
• 5.1.1. Outlook
• 5.1.2. Project analytics
• 5.2. Commercial Construction
• 5.2.1. Outlook
• 5.2.2. Project analytics
• 5.3. Industrial Construction
• 5.3.1. Outlook
• 5.3.2. Project analytics
• 5.4. Infrastructure Construction
• 5.4.1. Outlook
• 5.4.2. Project analytics
• 5.5. Energy and Utilities Construction
• 5.5.1. Outlook
• 5.5.2. Project analytics
• 5.6. Institutional Construction
• 5.6.1. Outlook
• 5.6.2. Project analytics
• 5.7. Residential Construction
• 5.7.1. Outlook
• 5.7.2. Project analytics
• 6 Key Industry Participants
• 6.1. Contractors
• 6.2. Consultants
• 7 Appendix
• 7.1. What is this Report About?
• 7.2. Definitions
• 8 About GlobalData
• 8.1. GlobalData at a Glance
• 8.2. GlobalData Construction
• 8.3. Disclaimer
• 8.4. Contact Us

List of Tables

• Table 1: Construction Outlook
• Table 2: Finland, Key Economic Indicators
• Table 3: Finland, Construction Output Value (nominal, EUR Million)
• Table 4: Finland, Construction Output Value (nominal, US$ Million)
• Table 5: Finland, Top Commercial Construction Projects by Value
• Table 6: Finland, Top Industrial Construction Projects by Value
• Table 7: Finland, Top Infrastructure Construction Projects by Value
• Table 8: Finland, Top Energy and Utilities Construction Projects by Value
• Table 9: Finland, Top Institutional Construction Projects by Value
• Table 10: Finland, Top Residential and Mixed-Use Construction Projects by Value
• Table 11: Finland, Key Contractors
• Table 12: Finland, Key Consultants
• Table 13: GlobalData Construction Market Definitions
• Table 14: Construction Risk Index Ratings and Scores

List of Figures

• Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
• Figure 2: Finland, Construction Projects Pipeline by Sector (EUR Billion)
• Figure 3: Finland, Housing Loan Issued (EUR, Million)
• Figure 4: Finland, Dwelling Permits Issued (Total Numbers)
• Figure 5: Finland, Risk Profile
• Figure 6: Finland, Risk Comparison
• Figure 7: Finland, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
• Figure 8: Finland, Construction Output Value, Growth Matrix
• Figure 9: Finland, Construction Output Value, by Sector (EUR Million), 2014-2023
• Figure 10: Finland, Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
• Figure 11: Finland, Construction Projects Pipeline, Value by Stage (EUR Million)
• Figure 12: Finland, Commercial Construction Output by Project Type (EUR Million), 2014-2023
• Figure 13: Finland, Commercial Construction Projects Pipeline, Value by Stage (EUR Million)
• Figure 14: Finland, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
• Figure 15: Finland, Industrial Construction Output by Project Type (EUR Million), 2014-2023
• Figure 16: Finland, Industrial Construction Projects Pipeline, Value by Stage (EUR Million)
• Figure 17: Finland, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
• Figure 18: Finland, Infrastructure Construction Output by Project Type (EUR Million), 2014-2023
• Figure 19: Finland, Infrastructure Construction Projects Pipeline, Value by Stage (EUR Million)
• Figure 20: Finland, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
• Figure 21: Finland, Energy and Utilities Construction Output by Project Type (EUR Million), 2014-2023
• Figure 22: Finland, Energy and Utilities Construction Projects Pipeline, Value by Stage (EUR Million)
• Figure 23: Finland, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
• Figure 24: Finland, Institutional Construction Output by Project Type (EUR Million), 2014-2023
• Figure 25: Finland, Institutional Construction Projects Pipeline, Value by Stage (EUR Million)
• Figure 26: Finland, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
• Figure 27: Finland, Residential Construction Output by Project Type (EUR Million), 2014-2023
• Figure 28: Finland, Residential Construction Projects Pipeline, Value by Stage (EUR Million)
• Figure 29: Finland, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
• Figure 30: Finland, Headquarters of Key Contractors (% of Total Project Pipeline)
• Figure 31: Finland, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
• Figure 32: Finland, Headquarters of Key Consultants (% of Total Project Pipeline)
• Figure 33: Finland, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)